All Forum Posts by: Jordan L. Webster

@Emily B. Holt is a bit far from us in Ludington but maybe we can still make it down for a meet sometime. We also have a REIA meet up in Ludington for any investors or related industry people in the area. On Meetup were called Mason County REI Club. Look us up and message me for more details!

@Isaac A. Sorry for the late reply. I haven't logged into BP in awhile. Thank you for the welcome. I've been on BP for a bit but not in Michigan. Hows Detroit going for you?

@Isaac A. sorry for the late reply. I've been interested Detroit for rentals for awhile. What types of properties have you invested in there?

What are your thoughts on the West side of Michigan as far as rental investment and flip potential? 

@Thomas Moran

Good to know, I’ve never used a wholesaler but if I do I’ll definitely put seeing those docs as requirement!

@Thomas Moran

How did you find out the margin he’s making?

@Thomas Moran

Right, that part is interesting. I don’t see how legally that can be wrong but your right that’s a good lesson learned for future deals. I hope it works out well for you! The wholesaler should hear your issue with the fee and try to work with you if he wants to stay in wholesaling long term.

Just to chime in on this since I’ve been looking into wholesaling recently and all the questions in this post have come up in my mind while researching and some things that MAYBE apply or should be thought of in situations like this.

1. Money isn’t everything, if you have a property that for one reason or another you are just absolutely done with then you want it and sometimes need it gone and somebody coming along and saying I can help you out and get this house sold for you. Well then that is a blessing.

2. Wholesalers work for that fee! From what I’m seeing wholesaling is rarely an effortless job although it may seem that way. You most likely spend hours and hours marketing, networking, searching for deals, searching for buyers, researching comps and on and on. $60k sounds pretty excessive but who knows, potentially he’s created a win, win, win situation.

3. Win, win, win! It definitely sounds like you need to ask for more details on future deals and scrutinize those contracts more. However if the seller has agreed to that price then I highly doubt that after this deal the seller won’t be better off or “in the hole” because of it. My point there is that if everyones benefiting then the wholesalers profit margin isn’t really concerning. They found the deal and made it happen and that’s what they are asking for. If they get that fee price then fine. If they don’t then they’ll be forced to lower the fee.

But to put out a disclaimer. Those few things aren’t to discredit that, that is a bit of a ridiculous profit margin for the wholesaler. From what I’ve seen that’s the type of thing that chases investors away and for good reason. That wholesaler would be highly advised to check his greediness and the overall picture.

I don’t know if any of that helps but those are some of my thoughts as I look into wholesaling as a potential option. And I’d love to hear some feedback, positive or negative.

Best of luck and God bless!

@Saravanan Saravanan

Thank you, I’m looking forward to it!

Alaska is a wonderful and beautiful state. We’ll be sad to leave it in a lot of ways but we’re ready for the next chapter and we feel called to Michigan.

@Emily B. Thank you! :)

We currently have a few contracts in Ludington and Cadillac but we’ll mainly be starting out in Ludington and targeting East and North from there.

We’re moving our little family to Michigan! We’re not moving until May 2020 but I’m too excited to get started I can’t help it!

I’m starting up my dream of investing full time and I’m starting a whole 10 years earlier than I thought I’d be, I’m so pumped!

I’m looking for other God fearing, honest and hard working investors with experience, wisdom and a love for real estate that I can help with ANYTHING real estate related and maybe pick up a little advice and mentorship from along the way!

Please chime in if you have any gems of advice or comments for a new REI Michiganite!

Hello everybody, 

I am currently in the military and trying to search and strategize and get creative about future career paths. My goal is to be a full time BRRR investor in the next 5 to 7 years and eventually scale up to commercial properties. I'm looking for jobs, maaaaybe career paths that push me toward those goals. My central location will most likely end up being somewhere in Michigan.

Through the military I will have the ability to intern, learn or work for a company of my choosing for 6 months at no cost to the employer as long as the program or opportunity is somewhat accredited or approved by the VA. So basically someone is going to get free labor from me for 6 months and I'm going to get paid training and or certification preferably with the prospect of a job afterwards. The program is called Skillbridge (formerly Career Skills Program CSP) for any fellow miltary interested.

What I'm looking for is any and all ideas of jobs in all spectrums of life that may be beneficial. 

I've thought about being a Loan officer or General Contractor but I'm still looking and the only path I've ruled out is being an actual realtor (not for me).

So please throw out any ideas and why they might be beneficial, I'd love to hear from this fantastic community of poeple and maybe I can pass my findings on to other military people to share the wealth of information!